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Sold Myrtle Beach Timeshare-Buyer Didn't Close

njsueb

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:bawl: Here's my story: I bought a timeshare in Myrtle Beach in 2006 for my son for $50 and he decided he didn't want it-neither did we. I sold it to a friend of a friend and she sent me the check. I forwarded the transfer paperwork to Timeshare Closing who after 6 months or so, returned it to me because the buyer never sent in her closing money. I told my friend who contacted her friend....The girl did pay for the 2006 maint fee...I haven't heard anything until getting a call from a collection agency saying we owe $1000 for 2008 maint, late fees, etc..I tried to explain that we sold it but it's still under our name. Asked who paid the main fee last year, they said they didn't know. I asked them why we never received a maint bill, again they knew nothing.
OK, if the girl doesn't close and I don't know if she even has the closing documents anymore-we still own and will have to resell...what a hassle. Does anyone thing the collection agency will settle for less? Should I call the resort and ask why I never got a bill or any notification that the main was not paid....I'm furious......and in the middle of buying a new home-I don't need this aggrevation right now.
Advice?

Sad in NJ
 

london

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You Are The Owner

Since you are the deeded owners of the timeshare, you are obligated to continue to pay maintenance fees for the week.

You need to get this resolved as quick as you can, as the collection agency may report you to one of the credit rating agencies.
 

Talent312

TUG Review Crew: Veteran
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It may be beating a dead-horse, but to eliminate any vestage of the buyer's right to close, I'd try to get them to sign a statement agreeing to terminate without liability for costs, or short of that, send a certified notice of intent to terminate due to their default.

In the meantime, you are still liable for all past-due MF's and will need to pay them if you ever hope to dispose of this sucker. Then use the resources available on TUG to help you sell it.
 

njsueb

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Dead Beat Timeshare Buyer

:whoopie: I negotiated with the collection agency and was able to reduce our debt - probably since I paid in full!

I have sent several emails to the "deadbeat" buyer at their work and their home and they have not replied. I do not know their address as they are sitting on all the paperwork.

I have put the t/s up for sale and am hopeful that I'll get rid of it. If it doesn't go, we'll pay the maintenance every year and trade it for somewhere else..........we're moving to the south next year so really don't need a beach getaway :cheer:
 
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